Crocker Mary Jayne 4

What Happened
Mary Jayne Crocker, a director of Bridgewater Bancshares Inc. (BWB), exercised stock options on 2026-04-16 to acquire 6,750 common shares at an exercise price of $12.92 per share, for a total cash outlay of $87,210. The Form 4 also reports the conversion/disposition of 6,750 derivative units at $0.00 — a routine reporting line that reflects the option being surrendered/converted upon exercise. No cash sale of the acquired shares was reported in this filing.

Key Details

• Transaction date: 2026-04-16 (Form filed 2026-04-17; timely filing).
• Exercise: 6,750 shares acquired at $12.92 per share = $87,210 total (transaction code M = option exercise).
• Derivative disposition: 6,750 units reported disposed at $0.00 (reflects conversion/cancellation of the option).
• Shares owned after transaction: Not shown in the provided excerpt of the filing.
• Footnotes: Options granted under the 2017 Combined Incentive and Non‑Statutory Stock Option Plan (F1). Vesting schedules cited in the filing include grants with vesting in 25% annual increments (grant dates 12/6/2019 and 2/1/2022) and a grant with 20% annual vesting (grant date 10/1/2017) (F2–F4).
• Filing timeliness: Filed the day after the transaction (appears timely).

Context
This was an exercise of previously granted options (a purchase/acquisition of shares), not an open‑market purchase or a sale. For retail investors, option exercises are often routine (vesting or planned exercises) but do increase the insider’s direct share ownership. The $0.00 derivative line is a standard way filings show the option instrument was disposed of upon exercise and does not indicate a separate cash sale.